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2017-08-22 10:40:01

10:40

08/22/17

08/22

10:40

08/22/17

10:40

Treasury Option Action: a build-up of bullish call butterflies

Treasury Option Action: a build-up of bullish call butterflies has been reported over the past 24-hours, said to total over 35k in November 127/129/131 call butterflies on 10-year futures. The strategy apparently targets a move in the underlying cash equivalent on the T-note yield of 1.63-1.87% from 2.20% currently. September 10s are 6.5-ticks lower near 126.205 compared to their 126.28-126.18 session range so far, thus the trade is either underwater or against the grain of the sell-off.

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